Osotspa Public Company Limited (OSP) reveals its operating results for Q1/2022, posting a record-high performance of 7,472 million baht in revenue with a net profit of 750 million baht. The net profit showed 8.1% growth, excluding foreign exchange impacts and dividend income from investments in other companies. To deal with higher production costs, the Company has continually adopted cost risk management as well as increased efficiency across all dimensions. The Company also plans to create growth through new business opportunities by developing products containing hemp, marketing collaborations with partners and new business in Taem M Line Official (M points).
Mrs. Wannipa Bhakdibutr, Chief Executive Officer of Osotspa Public Company Limited or OSP, Thailand’s leading manufacturer and distributor of consumer products, revealed that even though in the first quarter of 2022 (January-March), the Company has faced greater risks and challenges from the rising production costs and the COVID-19 pandemic that affects the economy and consumer purchasing power, but its growth exceeded the target with all-time high sales revenue of 7,472 million baht and net profit of 750 million baht. The net profit showed 8.1% growth, excluding foreign exchange impacts and dividend income from investments in other companies.
Osotspa continued to maintain its leading position in the energy drink market with 54% market share. M-150 brand remained the number 1 in the market. For functional drinks, C-vitt was the market leader with historic high market share of 38%, reinforcing its success of increasing sales over the past 10 years. Personal care products also showed greater signs. In addition, the international market had outstanding growth of 19% year-over-year and 58% growth quarter-over-quarter with ASEAN countries as the main market.
“Osotspa prepares various business expansion plans for 2022 and they are on track. The company has developed cost risk management plan that enables us to handle rising costs, such as fuel and transportation expenses. Also, we focus on enhancing efficiency in all dimensions: marketing, distribution, cost management and production,” said Mrs. Wannipa.
One of the Company’s business expansion strategies for the year 2022 is to develop hemp-containing products that are differentiated from other similar ones in the market. Osotspa has collaborated with Yanhee, who is a pioneer of vitamin water in Thailand and specializes in cannabis treatment, to launch "Yanhee Cannabis Vitamins Water" Lavender & Mixed Berry flavor. Besides being invented by a team of cannabis experts, the highlighted features of Yanhee Cannabis Vitamins Water are real cannabis extract and vitamin B12 that help nourish and relax the brain and nervous system, improving quality of life. The Company also launched the world’s first hemp-infused personal care product, the cold powder mixed with hemp seed oil under the brand "Exit."
Furthermore, Osotspa focuses on creating new business opportunities through Team M Line Official (M points), which has over 7 million M-150 loyal customers. The Company recently partnered with SCB Protect to provide an access to insurance to workers. Team M offers the accident insurance with compensation for inpatient income at a premium of 1-2 baht per day. Osotspa also joined forces with SCG to launch the campaign "Fight Like a Tiger with Unlimited Spirit Year 2” to gain more access to plasterers and contractors. This campaign provides them a benefit of x3 M points that can be redeemed for the special premium collection or sweepstakes entries to win big prizes from Taem M all year round.
